Bitcoin flirted with $97,000 on May 1, giving the market a nice little jolt. The reason? Two big names on Wall Street, Morgan Stanley and Charles Schwab, are making moves to dive deeper into crypto trading. That kind of institutional interest tends to get people’s attention, and this time was no different. Bitcoin nears $97K at a time when Wall Street firms are making crypto more accessible to everyday investors.
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The price bump might have been short-lived, but it’s a reminder that traditional finance isn’t just tiptoeing around crypto anymore. They’re looking for ways to offer it to everyday clients, not just the ultra-wealthy.
Morgan Stanley’s E*Trade Eyes Crypto Integration
First up, Morgan Stanley. According to reports, they’re working behind the scenes to roll out crypto trading for users of E*Trade, the popular brokerage they acquired back in 2020. The plan is to have things ready by 2026, and it sounds like Bitcoin and Ethereum will be front and center.
Right now, Morgan Stanley only offers crypto exposure to its high-net-worth clients through ETFs and futures. This new push would be a big step toward making crypto accessible to a broader slice of investors — the kind logging into E*Trade to buy stocks, not necessarily mining BTC or flipping NFTs.
Just saw Morgan Stanley’s plan to bring crypto to E*Trade in 2026, Big move for mainstream adoption.
Bitcoin’s hovering near $97K, and altcoins might rally if it breaks $100K.
Anyone else feeling bullish this May?
What coins are you stacking?— JOHN HADRICK
(@hadrickJo) May 1, 2025
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To pull this off, Morgan Stanley is reportedly exploring partnerships with crypto firms to build out the technical plumbing needed to support direct crypto trading. It’s not simple, but clearly, they see long-term demand from their client base.
Charles Schwab Plans Spot Crypto Trading
Then there’s Charles Schwab, which is also eyeing a move into spot crypto trading. CEO Rick Wurster said they’re hoping to offer it within the next 12 months, depending on how the regulatory winds blow.
Up until now, Schwab has only dabbled in crypto indirectly through ETFs and funds. But they’ve also quietly co-founded a non-custodial crypto exchange called EDX Markets with help from Fidelity and Citadel. In other words, they’ve been preparing for this move for a while.
Market Impact and Competitive Landscape
This kind of mainstream push could shake things up for platforms like Coinbase and Robinhood. Robinhood’s stock dropped shortly after news of Morgan Stanley’s crypto ambitions went public. That tells you all you need to know about how seriously investors are taking these developments.
With U.S. regulators showing a bit more flexibility toward banks dealing in digital assets, the environment is finally starting to look more welcoming for traditional finance to get involved in crypto without tripping legal wires.
Conclusion
Bitcoin popping above $97K wasn’t just another blip on the chart. It reflected a bigger trend — major financial players making real moves to bring crypto into the mainstream. Morgan Stanley and Charles Schwab aren’t just testing the waters. They’re mapping out ways to make crypto trading a normal part of retail investing. Whether prices keep climbing or cool off, this shift is already underway.
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- Bitcoin surged toward $97K on May 1 following news that Morgan Stanley and Charles Schwab are preparing to offer crypto trading to retail investors.
- Morgan Stanley is working to integrate crypto trading into E*Trade, aiming for a 2026 launch that could include Bitcoin and Ethereum.
- Charles Schwab plans to roll out spot crypto trading within the next 12 months, pending regulatory approval.
- These moves by legacy financial institutions are expected to challenge existing platforms like Coinbase and Robinhood.
- The expansion signals a growing shift toward mainstream crypto adoption as Wall Street aligns with evolving regulatory clarity.
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